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Enterprise Social Networks and Online Communities Market

Market Study on Enterprise Social Networks and Online Communities: Market Benefitting from High Social Media Usage by Enterprises

Enterprise Social Networks and Online Communities Market by Enterprise Type (Small Enterprises, Medium Enterprises, Large Enterprises)

Enterprise Social Networks and Online Communities Market (2023 to 2033)

In the year 2022, the market size of the Enterprise Social Networks and Online Communities was estimated to be US$ 7,300.2 million. This size is estimated to expand at a CAGR of 14.2% over the forecast period 2023 to 2033 and reach a market size of US$ 31,102.7 million in 2033.

Enterprise social networks are communication and interaction platforms, specific to the employees and relevant stakeholders of any particular organization, these platforms are primarily for the purpose of communication and sharing information, such as files, images, videos and so on. This communication uses the interface and features similar to a social media platform, hence earning them the name of an enterprise social network.

Enterprise online communities can be categorized into internal communities and external communities. These communities allow a free communication between the employees and teams within an organization regarding the problems and challenges they face (if internal), or the consumers and customers use these forums for raising issues they are facing with any product or solution, these problems are addressed by other users on the platform or by the company officials (if external).

The benefit of enterprise social networks and online communities is that they allow a common and unified platform for communication between the employees of the organization, across teams and domains, the social network allows the employees to also be updated on many important developments that are occurring within the organization and the communities give the enterprises a strong understanding about the difficulties the customers and clients are facing, in order to provide suggestions, make the necessary changes to their offerings and improve their relation with the customers.

The enterprise social networks and online communities market consists of 10% of the global unified communications market.

North America held a major market share of 26.8% in 2022 and is projected to dominate the forecast period and demand for the enterprise social networks and online communities market value share of 23.1% in Europe held the global market in 2022.

Enterprise Social Networks and Online Communities Market Size (2022)

US$ 7,300.2 million

Projected Market Value (2033)

US$ 8,220.0 million

Global Market Growth Rate (2023 to 2033)

14.2%

Large Enterprises Market Share (2022)

38.1%

US Market Share (2022)

19.4%

BFSI Market Share (2022)

22.1%

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What are the Underlying Reasons Driving the Demand for Enterprise Social Networks and Online Communities?

“Enterprise Social Networks and Online Communities Help Build Employee Engagement and Understand Customer Issues”

Several enterprises and brands wish to improve employee communication and interaction and use a common platform for majority of the interactive tasks, enterprise social networks can be integrated with the other communication platforms that enterprises use for communication, providing a single platform for communication within the organisation.

Online communities on the other hand are often customer facing, these communities are often forums for various different topics, these forums often allow the users to build an online identity for themselves, the more they contribute to the forum, the higher they are ranked or given special recognitions, these factors act as incentives for the users to contribute more.

Online communities tend to be more successful, if the product or service is something that has to do with entertainment and fiction, such as videogames or film franchises, or if the product/service has developed a strong brand loyalty.

  • In February 2023, Zoho announced that its Trident unified communication platform was now ready to be unveiled into the public domain. Trident is a central communication platform that allows employees to access emails, messages, accept phone calls and video calls and allow task management and scheduling.
  • In January 2023, Kempus an online community, focused on university students raised US$ 3 million in a seed funding round. The platform allows the users, who are verified university students to anonymously share online reviews about the university they study in.
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Which Factor is Driving the Opportunity in the United States for Enterprise Social Networks and Online Communities Market?

“Presence of Large Enterprises Drives Market for Enterprise Social Networks and Online Communities in United States of America”

United States of America is a country that is home to various large enterprises and many of these enterprises are spread across various countries. Since large enterprises have numerous employees and have various activities occurring within the organisations on a regular basis, United States of America becomes a strong market for enterprise social networks.

The country is home to numerous video game and franchises that are enjoyed globally. This allows the demand for online communities for the media and entertainment industries to garner a large following and use. These factors allow the enterprise social networks and online communities market to have held the market share of 19.4% in 2022.

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Why Factors Are Impacting the Japanese Market for Enterprise Social Networks and Online Communities?

“Large Electronics and Automotive Manufacturing Industries in Japan Can Allow the Market to Grow, but Workforce Decline Can Act as a Major Impediment”

Major electronic manufacturing companies and automotive companies based in Japan are large enterprises spread across the globe, making the large enterprises in this segment to be one of the most promising verticals for the enterprise social networks and online communities market in Japan.

However, Japan has an aging and declining population. This reduces the chances of the application on social media networks across enterprises. So while there are great prospects for enterprise social networks and online communities to be implemented in the large Japanese enterprises, the implementation could decline in small and medium enterprises over the forecast period because of the declining workforce.

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Why is India a Fast Growing Country for Enterprise Social Networks and Online Communities?

“Growing Economy and Enterprises Allowing the Growth of Enterprise Social Networks and Online Communities in India”

India is a developing country with several enterprises that are growing in size. The population in this country is quite young making it comfortable with social media use. These factors act as driving factors for the enterprise social networks and online communities market and allow it to grow at a CAGR of 16.4% over the forecast period.

Category-wise Insights

Why Large Enterprises are the Most Promising Market for Enterprise Social Networks and Online Communities?

“Ability to Invest in a Large Scale Social Network Technology and Large Number of Employees”

Large enterprises dominated the market for enterprise social networks and online communities, simply because of the ability of the large enterprises to make expenses for establishing enterprise grade social networks and due to the large workforce they have, that is spread across the globe, making an enterprise social network a good investment for the company.

The large enterprises can also be a strong market for online communities, provided they are a B2C business since through these platforms enterprises could identify the various problems and issues that their consumers are facing with their product or services.

Why is the Retail and Consumer Goods Vertical Growing for the Enterprise Social and Online Communities Market?

“Growth in Retail Enterprises Driving Demand for Enterprise Social and Online Communities”

Retail and consumer goods segment is estimated to be the fastest growing vertical for the enterprise social networks and online communities market growing at a CAGR or 17.2% over the forecast period.

E-commerce industry is growing at a rapid rate globally allowing the implementation of enterprise social networks and online communities to grow along with it. This industry is also heavily dependent on customer feedback, while positive feedback could boost sales for a certain product, negative reviews could discourage the sales, allowing the e-commerce companies to decide their what factors should they focus upon.

Competitive Landscape

The enterprise social networks and online communities are a platform that allow communication and sharing of files and information between the employees and customers of any particular brand or company. The one thing that separates enterprise social networks from other communication platforms is that these platforms also prioritize elements such as employee recognition, fun activities, company updates and so on.

Companies that offer enterprise social networks provide various integration features with various enterprise e-mail platforms and communication platforms, due to the understanding that the social network platforms are not a complete replacement for such communication platforms.

The companies that have established themselves in unified communication services and social media platforms tend to leverage this space.

  • In November 2021, Meta announced that it will be integrating Microsoft teams with its offering Facebook workplace. The users of this platform beyond this point would be able to send content from Microsoft Workplace to Microsoft teams platform, this further adds to the initial argument that integrating popular communication platforms is important for enterprise social networks.
  • In October 2021, Microsoft Corporation acquired the company Two Hats, a content moderation and profanity solution. This development allows the development of safety of users on digital platforms owned by Microsoft.

Recent developments related to key players providing the enterprise social networks and online communities market have been tracked by the analysts at Persistence Market Research, which will be accessible in the full report.

Enterprise Social Networks and Online Communities Market Report Scope

Attribute

Details

Forecast Period

2023 to 2033

Historical Data Available for

2018 to 2022

Market Analysis

US$ million for Value

Key Regions Covered

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

Key Countries Covered

  • United States
  • Canada
  • Brazil
  • Mexico
  • Germany
  • United Kingdom
  • France
  • Spain
  • Italy
  • China
  • Japan
  • South Korea
  • India
  • Indonesia
  • Malaysia
  • Singapore
  • Australia
  • New Zealand
  • Turkey
  • South Africa
  • GCC Countries

Key Market Segments Covered

  • Enterprise Type
  • Industry Type
  • Region

Key Companies Profiled

  • Google, Inc.
  • Lithium Technologies Inc.
  • TIBCO Software Inc.
  • SAP SE
  • Salesforce
  • VMware
  • Cisco Systems
  • IBM Corporation
  • Vanilla Forums
  • Zimbra
  • Axero Solutions
  • Igloo Software
  • Zoho Corporation
  • Aurea Software Inc.
  • SocialText Inc.
  • Microsoft Corporation

Pricing

Available upon Request

Key Segments of Enterprise Social Networks and Online Communities Market Research

By Enterprise Type:

  • Small Enterprises
  • Medium Enterprises
  • Large Enterprises

By Industry Type:

  • Healthcare
  • BFSI
  • IT & Telecom
  • Government
  • Retail & Consumer Goods
  • Others (BPO and Education)

By Region:

  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia & Pacific
  • Middle East and Africa (MEA)

- Companies Covered in This Report -

  • Google, Inc.
  • Lithium Technologies Inc.
  • TIBCO Software
  • SAP SE
  • Salesforce
  • VMWare
  • Cisco Systems
  • IBM Corporation
  • Vanilla Forums
  • Zimbra
  • Others
  • Igloo Software
  • Zoho Corporation
  • Aurea Software Inc.
  • SocialText Inc.
  • Microsoft Corporation

- Frequently Asked Questions -

In 2022, demand for the enterprise social networks and online communities market is estimated to be US$ 7,300.2 million.

The global enterprise social networks and online communities market is estimated to grow at a CAGR of 14.2% over the forecast period.

The market for enterprise social networks and online communities market is forecasted to have a market value of US$ 31,102.7 million by 2033.

Demand for the enterprise social networks and online communities market in India is projected to rise at 16.4% CAGR over the forecast period.

In 2022, North America enterprise social networks and online communities market held a dominant market share of 28.4%.

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